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Akre Capital Management Cuts Markel, Primo Water

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·6 min read
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Chuck Akre (Trades, Portfolio)'s Akre Capital Management manages a $13.72 billion equity portfolio composed of 28 stocks as of the quarter's end. The firm sold shares of the following stocks during the second quarter of 2020.


Markel

The fund trimmed its position in Markel Corp. (MKL) by 1.41%. The trade had an impact of -0.06% on the portfolio.

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942badde2aaab1aa00c9ba2e0ee738e5.png

The property and casualty insurance company has a market cap of $5.07 billion and an enterprise value of $14.45 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 2.02% and return on assets of 0.63% are underperforming 73% of companies in the insurance industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 1.34 is below the industry median of 2.18.

Other notable guru shareholders of the company include Jim Simons (Trades, Portfolio)' Renaissance Technologies with 1.53% of outstanding shares, followed by Chris Davis (Trades, Portfolio) with 1.51%.

Primo Water

The fund reduced its Primo Water Corp. (PRMW) holding by 31.13%. The portfolio was impacted by -0.04%.

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The water solutions provider has a market cap of $2.38 billion and an enterprise value of $3.89 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of -9.19% and return on assets of -3.32% are underperforming 80% of companies in the beverages, non-alcoholic industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.13 is above the industry median of 0.51.

The largest guru shareholder of the company is Simons' firm with 1.56% of outstanding shares, followed by Mario Gabelli (Trades, Portfolio)'s GAMCO Investors with 0.93%.

CarMax

The fund curbed its position in CarMax Inc. (KMX) by 0.44%. The portfolio was impacted by -0.02%.

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The company, which sells used and new cars, has a market cap of $16.96 billion and an enterprise value of $31.62 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 17.3% and return on assets of 3.09% are outperforming 61% of companies in the vehicles and parts industry Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.04 is below the industry median of 0.48.

The largest guru shareholder is PRIMECAP Management (Trades, Portfolio) with 6.29% of outstanding shares, followed by Ruane Cunniff (Trades, Portfolio) with 5.64% and Wallace Weitz (Trades, Portfolio) with 0.42%.

American Tower

The fund reduced its American Tower Corp. (AMT) holding by 0.05%, impacting the portfolio by -0.01%.

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The company, which operates cell towers around the world, has a market cap of $109.21 billion and an enterprise value of $139.41 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 41.74% and return on assets of 4.72% are outperforming 99% of companies in the REITs industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.06 is above the industry median of 0.08.

The largest guru shareholder of the company is Akre with 1.59% of outstanding shares, followed by Ken Fisher (Trades, Portfolio) with 0.40% and Spiros Segalas (Trades, Portfolio) with 0.36%.

Berkshire Hathaway

The investment fund curbed its holding in Berkshire Hathaway Inc. (BRK.B) by 0.05%.

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2f58a3e71ddfe15fcf2ac47cddda69be.png

The holding company has a market cap of $508.13 billion and an enterprise value of $582.01 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. While the return on equity of 5.64% is underperforming the sector, return on assets of 2.84% is outperforming 51% of companies in the insurance industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.34 is below the industry median of 2.18.

Other notable guru shareholders include Bill Gates (Trades, Portfolio)' foundation with 1.85% of outstanding shares, Bill Ackman (Trades, Portfolio) with 0.22% and Diamond Hill Capital (Trades, Portfolio) with 0.11%.

Dollar Tree

The investment fund reduced its Dollar Tree Inc. (DLTR) position by 0.06%.

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The company operates discount stores in America and Canada. It has a market cap of $22.89 billion and an enterprise value of $31.56 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 13.22% and return on assets of 4.09% are outperforming 64% of companies in the retail, defensive industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.17 is above the industry median of 0.34.

Other notable shareholder of the company include Louis Moore Bacon (Trades, Portfolio) with 0.21% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.16% and First Pacific Advisors (Trades, Portfolio) with 0.02%.

Moody's

The investment fund curbed its holding in Moody's Corporation (MCO) by 0.04%.

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The company, which provides credit ratings, has a market cap of $51.53 billion and an enterprise value of $56.40 billion.

GuruFocus gives the company a profitability and growth rating of 10 out of 10. The return on equity of 283.59% and return on assets of 16.71% are outperforming 94% of companies in the capital markets industry. Its financial strength is rated 5 out of 10 with a cash-debt ratio of 0.32.

The largest guru shareholder of the company is Warren Buffett (Trades, Portfolio) with 13.16% of outstanding shares, followed by Bill Nygren (Trades, Portfolio)'s Oakmark Fund with 0.58% and Andreas Halvorsen (Trades, Portfolio) with 0.52%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.